ABSTRACT: Robust equity markets promote
economic development. Most developed nations have stringent
disclosure requirements for companies that intend to raise capital through stock markets; which further helps in strengthening
equity capital markets. Following their footsteps, developing countries like
BRICS have enacted such regulations. This research is doctrinal where a
systematic approach is undertaken to examine the current legal framework about
asymmetric information in the equity capital markets of BRICS countries. This research shall act as a testament
to the claims of securities regulators in BRICS countries who want to create a
safe environment for investors by promoting transparency. This research
aspires at contributing to the existing literature on primary equity capital
markets by identifying such laws that help in reducing information problem
between market participants. While this is regulatory driven analysis;
additional research could be carried out to check the implementation of these
laws in BRICS countries.